13.01.2015 - Technical view on commodity futures

The price of gold after a minor correction was able to overcome the resistance level at 1230 and reached the next target of 1244. After overcoming this mark, quotes can continue to grow with the objectives at 1252, 1265 and 1278. The fall of the price is limited by the level of support near 1210. Our medium-term outlook remains positive and we recommend holding long positions.

Nearest resistance levels: 1244, 1252, 1265, 1278, 1290

Nearest support levels: 1230, 1210, 1200, 1180, 1170, 1140, 1120, 1100

The price of Light sweet crude oil decreases inside the descending channel. The price has reached an important level of 45.00 and is likely to continue to decline to a level of 40.00. Growth is possible only within the correction and is limited by the upper boundary of the channel, in case of breaking through which the price may rise to 50.00. We recommend holding short positions and see no reason to change the current negative dynamics in the medium term.

Nearest resistance levels: 46.00, 47.50, 50.00, 52.00, 54.00, 58.50, 60.00

Nearest support levels: 45.00, 42.00, 40.00, 35.00

RISK WARNING: Trading of complex financial products, such as Stocks, Futures, Foreign Exchange ("Forex"), Contracts for Difference ("CFDs"), Indices, Options, or other financial derivatives, on "margin" carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading these markets, and seek advice from an independent financial advisor if you have any questions or doubts. Please carefully read our full "Risk Disclosure" and "Risk Disclosures for Financial Instruments & Investment Services". FXFINPRO Capital is the trading name of PFX Financial Professionals Limited, a limited liability company formed under the laws of Cyprus, registered with the Registrar of Companies in Nicosia, Cyprus, under nr. HE 237840 and regulated by the Cyprus Securities and Exchange Commission with license number 193/13.